Madagascar’s nominal GDP rose to $19.6bn in 2025.

Higher is better. A larger dollar economy means more income and production to support spending, investment and tax revenue, so higher is better for this measure. The latest figure, for 2025, is $19.6bn, up from $17.6bn a year earlier, a rise of 11.5%. That is the highest level since 2016, when the series stood at its low of $11.8bn. The 2025 reading therefore sits at the top of its range over the whole window.

Why it matters. A larger economy in dollar terms widens the base from which the state collects taxes and services external debt, which is largely priced in foreign currency. For firms that import fuel, machinery and goods, and for households buying them, the dollar value of output also depends on how the ariary moves, so the gain of $2bn over the year may not feel equal across the country.